Govt gets it left and right, Ratan points finger at leadership deficit

With the rupee slipping to a new record low against the dollar, the UPA government on Wednesday came under heavy criticism from the Opposition as well as the industry.

The main Opposition BJP asserted that the UPA government should quit, as it had completely run out of ideas to deal with the crisis, while CPI leader Gurudas Dasgupta cautioned that India is heading for an economic emergency and CPM’s Sitaram Yechury called the present economic situation much worse than that in 1991.

“Indian economy under Manmohan Singh is on ventilator in the ICU. It is happening because of big CAD and fiscal deficit and complete lack of trust of investors in the present ruling establishment,” Ravi Shankar Prasad, Deputy Leader of the Opposition in Rajya Sabha, told Express.

Industry bigwig Ratan Tata was scathing in his criticism. “We have lost the confidence of the world,” Tata told a TV channel, while responding to a query on the Prime Minister’s silence on investors losing confidence.

Maintaining that the leadership deficit is aggravating the economic crisis in India, Tata said, “We should have one view. The team has been pulling in different directions, allies are pulling in different directions. States are pulling in one direction. We are not consolidating ourselves in the government.”

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